Updated Technical Report On The New Enterprise Project

RENO, NV - Pershing Resources Company, Inc. has received a SK-1300 Technical Report Summary for the New Enterprise Project located in the Maynard Mining District near Kingman, Arizona. The Report summarizes and integrates previously completed exploration work by Pershing and other exploration companies within the New Enterprise Project area. Based on this information, the Report recommends a three Phase exploration program to test the proposed conceptual exploration model and the potential for a copper porphyry-related mineral resource discovery for the New Enterprise Project. This new exploration model does not appear to have been considered by previous exploration companies in or around the Project area, nor have the four primary targets identified with this model appear to have been previously drill tested.

The New Enterprise Project is situated between the historical producing Mineral Park Mine* twenty miles to the northwest and the currently producing Bagdad Mine** forty-five miles to the southeast, both of which are within the copper producing Laramide arc. Comparable geology, structural control, alteration, and mineralization described at both of these mines has been identified within the New Enterprise Project area. However, the Report indicates that a competent and non-reactive "lithocap" present within the New Enterprise Project area may have created geothermal alteration patterns and mineralization distributions atypical of the "classic" porphyry exploration model. The Report further indicates that variations caused by the presence of a "lithocap" may have concealed the mineral resource potential of the New Enterprise Project area.

The Report found that all significant porphyry-related mineralization within the New Enterprise Project area appears to occur within a newly defined "structural corridor" transecting the middle of the New Enterprise Project area that is approximately four miles long and 0.4 miles wide. The Report states that in the north of the New Enterprise Project area, sub-vertical structures cutting through the "lithocap" appear to have concentrated argillic and phyllic alteration along with porphyry-related copper, gold, and silver mineralization. Whereas in the south, extensive argillic and phyllic alteration appears to be extending significantly outward from the "structural corridor" within Laramide-age intrusive rocks below the "lithocap" with structurally controlled porphyry related copper, gold, silver, and molybdenum mineralization. Inward and downward zonation of alteration and mineralization observable in exposed bedrock and increasing copper and gold values with depth, as reported in historic mining operations, has yet to be drill tested. The four significant mineral occurrences within the project area are considered to represent structurally and "lithocap" controlled upwellings of porphyry related copper, gold, silver, and molybdenum mineralization that may be associated with a significantly larger zone of mineralization at depth.

Additional work is necessary to further understand the scope of the newly developed conceptual exploration model as discussed in the Report. A three-phase exploration program is outlined to better constrain the conceptual exploration model and to determine the potential grade and tonnage of the structurally controlled mineralization. Pershing will need to secure sufficient funding to complete the recommended work as outlined in the Report.